Forex Blog

Today in forex trading the CAD/CHF had a buy signal and moved higher. The CHF (Swiss Franc) was weak on all pairs, diving movement on the CAD/CHF and several other pairs. There was some GBP strength and CAD strength in the market, this helped to drive the GBP/CHF and CAD/CHF higher. The GBP/CHF should continue higher on the existing D1 time frame and a stronger uptrend might form on this pair. The CAD/CHF may continue cycling up for one more day, but the overall trend is down on the larger time frames. The trading signals you see below are from The Forex Heatmap®, which gives live buy and sell signals on 28 currency pairs.

CAD/CHF Trading Signal 3-25-2014

The CAD/JPY is trending lower on the larger time frames. The image below shows the down trend on the W1 time frame for this pair. The trends of the market as a whole are showing quite a bit of Canadian Dollar (CAD) weakness, which is driving a lot of price movement. Below the current support levels, noted by the yellow line, this pair has excellent pip potential to continue much lower.

The red and green free forex indicators you see below are for monitoring trends in the forex market. They are exponential moving everages set on the 5 and 12 time persiods. Forexearlywarning provides these indicators to clients and all other traders.

Forex Trend Indicators CAD/JPY 3-19-2014

Today in forex trading the NZD/CAD had a buy signal and the GBP/NZD has a sell signal. The NZD (New Zealand Dollar) was strong on all pairs, creating good price movement. The NZD/CAD is trending higher with no nearby resistance and we will be looking to buy it again in our daily trading plans. The NZD/USD is also trending higher and the next resistance area is around 0.8800 on this pair. New Zealand Dollar strength is prevalent in the trends of the market now. The trade signals you see below are the live signals from The Forex Heatmap®.

NZD/CAD Trade Signal 3-18-2014

Today in the forex market the JPY (Japanese Yen) was strong on all pairs.  This occurred late in the main session as the JPY pairs sold off across the board. The movement cycles were strong to the downside on these currency pairs. We will check these trends and charts on these pairs later today for the formation of new downtrends on the larger time frames. If we see trends that have formed with additional potential, we will issue new trading plans for sells on these pairs.  The alert system you see below is The Forex Heatmap®.

Forex Alert System JPY Strength 3-13-2014

The EUR/USD chart shows that this pair is trending higher on the major time frames. This is the W1 time frame chart below. This pair should continue up to at least the 1.4170 resistance area or possibly much higher. See the resistance targets on the chart in yellow on the left side of the chart, the lower line is the 1.4170 first target resistance. Currently the EUR is strong on most pairs and this is driving the upward movement on this pair. Just above the current resistance you can set a price alert for a breakout. Then you can verify your buy entry using The Forex Heatmap®.

EUR/USD Chart 3-12-2014

Today after the Non Farm Payrolls NFP news, the Canadian Dollar CAD was weak on all pairs. The Canadian news drivers like Unemployment Rate and Labor Productivity were reported at the same time as the US Dollar Non Farm Payrolls news. Pairs like the USD/CAD and EUR/CAD moved up quickly after the news and new buy entries were more than likely not possible due to the somewhat immediate price spikes.

The EUR/CAD is trending higher and is nearing a resistance breakout point. We will look to set a new trading plan for a buy on this pair Sunday night of Monday of next week.

Forex News Non-Farm Payrolls And Canadian Dollar News

The live trading signals you see above are from The Forex Heatmap®, which provides live trading signals on 28 pairs. It works after non farm payrolls for assisting with trade entries, it also works after any scheduled or unscheduled forex market news. Traders can also review our complete written guide to trading non farm payrolls.

Having a forex currency strength indicator would be an important part of any accurate trade entry system. Forex traders need accurate tools for entering trades. If you combine accurate tools that show the end user where the momentums is in the market, the success rate for forex traders would improve greatly.  These momentum indicators are for trade entry management. Combined with setting and moving stops a currency trader would be close to creating a profitable trading system.

Look at the example forex currency strength indicator below. This is called The Forex Heatmap® forex heatmap. It is a forex currency strength indicator for 28 pairs. This is an example from daily trading in the main forex trading session. In this example EUR/JPY had a clear buy signal. The Japanese Yen (JPY) was mostly weak on all pairs and the EUR (Euro) was strong. This drove the EUR/JPY sharply up.

Forex Currency Strength Indicator

Forex Currency Strength Indicator Chart

The EUR/JPY had a valid buy  signal in this trading session. Since this pair was also trending up on the larger time frames, not only could a trader have had a successful trade entry, but this pair also has ongoing pip potential due to the trend on the larger time frames. A forex currency strength indicator like The Forex Heatmap® can give you a good trade entry, but if you are trading in the direction of the major trends, there will be additional upside potential to make more pips. Movements like this of over 100 ips are what forex traders are looking for, not scalping a few pips here and there. This great indicator works for 28 currency pairs and the signals are live in the main trading session, and also the Asian trading session. Pips are possible in both forex trading sessions, and these are the best times to trade the forex market.

Another Forex Currency Strength Indicator Example

In this example, the NZD (New Zealand Dollar) is showing consistent strength in the main trading session on the heatmap. This NZD strength, combined with a small amount of CAD (Canadian Dollar) weakness, drove the NZD/CAD strongly higher on this day, a very large movement for such a low volatility pair. Here are the live signals and associated price movement.

Forex Currency Strength Indicator NZD

Forex Currency Strength Indicator NZD/CAD Movement

Once again this movement of 110 pips in one trading session is excellent and the signals are solid, indicating NZD strength. In this case, The Forex Heatmap®, the forex currency strength indicator for trade verification, worked great to give you a signals for a strong and profitable trade entry. In this article we have only shown two examples, but this system works daily in both trading sessions for 8 currency groups and 28 pairs. You can trade all of the USD, EUR, CHF pairs, etc. with this great system. We have a complete library of forex trade entry examples you can check for all of the pairs we follow.

Today in currency trading the JPY weakness drove price movement on all of the pairs in this group.  There was also some AUD strength and NZD strength in the market so the AUD/JPY and NZD/JPY had good short term movements to the upside. The Japanese Yen (JPY) pairs and the overall market are still somewhat choppy so we would be careful with any new trade entries and scale out lots or exit completely. Most of these pairs are ranging on the smaller time frames and no strong trends exist on these pairs.

Currency Trading Signals JPY Weakness 3-4-2014

Today in the currency markets the New Zealand Dollar (NZD) had clear strength on The Forex Heatmap®. The Canadian Dollar (CAD) was also weak, so the NZD/CAD had strong movement and a clear buy signal. This pair moved strong to the upside. The NZD/CAD has now broken through most historical resistance areas and is trending higher on the larger time frames. This pair has no nearby resistance past the current prices. The currency strength trading indicator below is The Forex Heatmap®. The heatmap shows trading signals for the asian session forex time on the left and the main trading session on the right. The similar signals on both sides of the heatmap indicates that the market was quiet and consolidating in the asian session forex times and the momentum started in the main trading session.

Currency Strength Trading NZD/CAD Buy Signal 2-27-2014